This article was last updated on April 16, 2022
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Toronto mayoral candidate, Doug Ford, has vehemently defended his work and dedication to his family label business, stressing that sales have gone up and all of the firm’s divisions are profitable. The one-term councillor boasted about his performance as president of Deco Labels and Tags, implying that his good record proves that he is best qualified to manage the public purse.
However, several reports obtained by the media show that the privately owned business has struggled financially and operationally since the 2008 recession. Documents pertaining to court filings related to a child-support case between Randy Ford and one of Deco’s three owners shows that between 2007 and 2010 the annual shareholders bonus fell by $685,000. In addition to that, six other sources related to the company revealed on condition of anonymity that mismanagement, family infighting and delays continue to plague the Toronto division, although Chicago has recovered.
However, in response to similar revelations made in an article on Monday, Mr. Ford instead boasted his performance at Deco to reporters. He proudly stated that the company has offices in Toronto, Chicago and New Jersey and that “we’re one of the few printing companies out there that are totally self-financed. We’ve never taken a loan from the bank.” Furthermore, the mayor hopeful mentioned in a statement that “we built a company from absolutely scratch, with nothing,” and “I’m proud to say that each one of our divisions is a profitable division and we’re creating 250 jobs.”
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